Minimizing the Burden of Art Inventory

20 May

As I mentioned in the previous blog, carrying inventory is such a drag but yet it becomes a necessary evil. The question is how to best deal with inventory…

1. Reviews – Ensure the pictures you select are the most marketable. Do not go just by gut feeling UNLESS you have a proven track record. Rather seek the opinions of others. But not just ANYBODY. Not your mom. Not the people who think dark and creepy is cool (even though it might be). Rather, seek those people whose taste probably best match the buying public. There are plenty of opportunities for this. You can have samples printed up and ask friends an coworkers their thoughts. Or simply post the pictures in FACEBOOK and judge people‚Äôs reactions. Not only judge the reactions, but judge the people who make the reactions. A opinion of a middle class woman in her late 30’s carries a lot more weight, in my mind at least, than a teenage boy because after buying the latest games and CD’s the boy has no money to spend. Not only that he only has four walls, at best, to decorate.

2. Galleries – while is doesn’t minimize your actual inventory placing your work in various galleries does help keep down the house clutter during the off-season. Why stick your pictures under your bed when they could be hanging somewhere with a chance to be sold.

3. De-emphasis that portion of your business. I am not joking. Unless you are moving your goods quickly OR unless you have some huge markup that makes a few sales extremely profitable, this will NOT be a good money making venture. That are other avenues in photography that do no make the inventory demands that fine art does.

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Posted by on May 20, 2010 in Business Advice


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